Re: procedure- if denied...
in response to
by
posted on
Jul 07, 2017 03:36PM
Ok Now you can see why the court can deny your petition. Good job. If EDIG's petition is ultimately denied because they find there are undisclosed assets, all hell will break loose. Lawsuits will be flying around like mayflys. Can you imagine the anger generated by the shateholders who sold the stock on the basis of the petition?
I noticed the post in which someone said EDIG did't list the patents in filing. Don't know how true that is or if they were disclosed in some other fashion, but there's so much info not as yet disclosed. Maybe the patents WERE, in fact, sold. However, if the court deems they were sold expressly to eliminate them from danger, it can void that sale and add them to the list of assets
It's sufficient to say that the U.S. Bankrupty Code is very complex. It takes a long time for the prosess to play out on any given case.
It's hard for me to believe EDIG couldn't have petitioned for re-org under Chapter 11.....unless they didn't intend tp keep the doors open all along, after devising a way to rid the stage of the shareholders before somehow cashing in on a big payday for the principals. I have a feeling this is not the end to this adventure. Somehow this IP will effect the IOT.